Investors face a quandary. Cash offers a return of virtually zero in many developed countries; government-bond yields may have risen in recent weeks but they are still unattractive. Equities have suffered two big bear markets since 2000 and are wobbling again. It is hardly surprising that pension funds, insurers and endowments are searching for new sources of return.

Many say that government and corporate bonds are a good investment to balance against a portfolio consisting primarily of stocks.

In jail for killing a man, Procter Lewis is placed in a cell where he is faced with a choice: he can be bonded out of jail by Roger Medlow, the owner of the plantation where he lives, or he can serve his time in the penitentiary.